French Finance Minister Francois Baroin said that all the elements were in place to reach an agreement on Greece at a meeting of eurozone finance ministers on Monday.
“All the elements are in place… both with the bankers, private sector creditors, and public sector creditors, the states and central banks,» Baroin told Europe 1 radio.
“That is what I will plead for as minister of finance today. I think we should take account of everything that has been done in recent weeks by the Greek government, and by political parties both on the left and the right.”
“It cannot wait any longer…,» Baroin said. «Greece has debt payments in March and could find itself in bankruptcy, something which France has been trying to avoid for the last 18 months.”
Baroin also said that a special escrow account to earmark funds to be used for Greece’s debt servicing would help to give confidence to investors. [Reuters]